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See the Related Link below this answer.
Agreeably, you may have to try and figure a way to relate number of families to number of returns. There are only 2 tax brackets and all the lower one would be in the < $30,122 category here..in fact many of that category aren't even counted as stated below. So about 1/3 of the returns are not just in the low bracket but NO bracket and don't pay but may even get money back.
The IRS data in the link to the left include all of the 130 million tax returns filed in 2004 that had a positive AGI, not just the returns from people who earn enough to owe taxes. From other IRS data, we can see that 89 million of the tax returns came from people who paid taxes into the Treasury. That leaves 43 million tax returns filed by people who used exemptions, deductions and tax credits to completely wipe out their federal income tax liability. Not only did they get back every dollar that the federal government withheld from their paychecks during 2004; but some even received more back from the IRS. This is a result of refundable tax credits like the Earned Income Tax Credit, which are not included in the aggregate percentile data here.
The Tax Foundation is a wonderful, non biased, non political very well respected group that compiles a huge amount of reliable information on taxes of all sorts.
See the Related Links below.
What else can I help you with?
What is the tax bracket for individuals?
There are many things that will determine which tax bracket you will wind up in. There are tax brackets for single people and married couples. On top of that any individual is able to add an additional amount to be deducted from their gross pay and apply that towards taxes that might be owed at the end of the year. If you have overpaid taxes, when you file your returns, you might get a refund.
Are the tax preparation services offered for free?
"There are some tax preparation services that are offered for free for low-income families. Many online programs, such as TurboTax or HRBlock Online, will offer free online preparation, but charge for filing. If you fall in an income bracket of around under $50,000 per year salary, you might be able to file the Federal Tax Return for free, but you will likely have to pay to file your State Tax Return."
When filing married will it affect your return?
You can check with www.IRS.gov, but it will affect your return. You get better tax bracket treatment and can have higher standard deductions, contributions to various retirement accounts, etc. Filing married has many, many tax advantages! == ==
Where can one get an American Express Pay Bill?
American Express has very many various options for obtaining an American Express Pay Bill. Some of the many places that one can go for this is the online services section of the American Express website, and the billpay section of the American Express website.
How do you determine your income tax bracket?
Easy way: Add $100 to your income. Calculate how many extra dollars you would pay in taxes. That is your tax bracket. For example, if adding $100 to your income causes you to pay $25 extra in taxes, you are in the 25% tax bracket. Remember that there are separate state and federal tax brackets. This method can be a bit misleading if you are right on the border between two tax brackets. You can also look up your federal tax bracket in the following tables: http://www.moneychimp.com/features/tax_brackets.htm Remember to add state taxes to that. And remember to use your taxable income, that is the income after subtracting all deductions and exemptions. Looking up your income in the tables will be misleading if you are subject to AMT or you are in the phase-out range for certain tax benefits or you are in the phase-in range for taxing Social Security benefits.
How many teams are in each bracket for March Madness?
16
How many people fill out a ncaa bracket each year?
1
How many families bond with each other?
Not many people like to bond so about 89% of families like to
How many American families did Stephen f Austin bring to Texas in 1824?
More than 900 families
How did the emergence of television affect American culture in the 1950s?
The emergence of the television affected American culture in the 1950's because many families gathered together to watch the television, and brought families together.
How many families could live on each floor of the dumbbell tenement?
12 families could live in a dummbell intenement but they would have to be squeezed in
How did American families live during the great depression?
many people died and lost their homes
How many fact families under 100 contain three different digits?
how many other fact families with dividends under 100 contain exactly three different digits? Name one multiplication fact in each of these families
How many times do you space after an opening bracket?
There is a space before an opening bracket, but I am reasonably sure there is no space after the opening bracket. Neither is there one before the closing bracket.
How many people in a Greek family?
Traditionally Greek's have fairly large families, but each family will be different.
What is each column in the periodic table called how many of them are there?
The columns represent groups or families of elements. There are 18 of them.
What were the changes made to the colonies by Britain?
The American colonies became religious after Obama left office. The slaves in the community had started many families with the citizens in each colony. Thus mixed children were invented. The dawn of a new age.
